Pennsylvania Schools Could See 5% Revenue Loss Due To Coronavirus Pandemic, Group Says
HARRISBURG, Pa. (AP) -- Pennsylvania's 500 school districts are facing a projected loss of up to 5% in the revenue from local taxes as coronavirus pandemic shutdowns take a heavy toll on the economy.
The Pennsylvania Association of School Business Officers said Tuesday it is projecting a loss of $1 billion, or 5%, in revenue from local taxes if an economic recovery lags.
The group says a quicker turnaround could limit losses to $850 million, or 4%. School districts reported spending about $30 billion in the 2017-2018 school year, the latest data available.
About $17.5 billion in revenue that year came from local sources, primarily property taxes.
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